How to use Bitcoin Paper Wallets (Cold Storage)

f9211888f576c12ebad2a3fb83a7d8b5

Bitcoin Paper Wallets (Cold Storage)

On Aug 2 2016, the second largest Bitcoin Heist of all time took place, second to only the infamous Mt.Gox

A few members have asked about how to set up Cold Storage. This page explains how to make a Paper Wallet.

I chose this method because I find it to be the most secure. This is because it’s done offline, fast & easy.


Creating Paper Wallet

  1. Go to https://github.com/cantonbecker/bitcoinpaperwallet/archive/master.zip
  2. Then Disconnect the Internet (yes you can create Address’s offline)
  3. Unzip File and open generate-wallet.html
  4. You’ll have two options;
    1. Move around your mouse till Encryption is completed
    2. Type random Keys in the box.
  5. Chose your wallet Design from the drop-down menu.
  6. Tab 1- Calibrate Printer; You Print the Ruler and makes sure its correct on the Print. “Mine is almost never perfect, but it works”
  7. Tab 2- Print Front Side;
    1. Near the top Check the box” BIP38 Encrypt” Enter a Complex and long password and SAVE IT,
    2. Then hit the print button. I like to Save a PDF file and store it on CDs (USB is ok) and store it in a safe place a good idea would be to give 2-3 copies friends to just in case. They cant take your BTC unless you reveal your password,
    3. Print the paper wallet
  8. Tab 3- Print Back Side;
    1. Flip the wallet paper over, put it back in the printer Print.
    2. Then Cut it out if you’d like.
  9. Congrats, you have created an Offline Paper wallet!

 Deposit and withdrawal

To Deposit

  1. Scan your public address QR Code and send your BTC,
  2. Without a webcam or a mobile phone you can manually type in the Address. please be very careful,

 

To Withdraw

The fastest way is to use Mobile Bitcoin Wallet (Download here), in the settings theirs is a button to sweep the paper wallet. Scan the QR Code of the Private Key and then your done

The Bitcoin Core method
  1. Download the Bitcoin Core Wallet (Download here). It will have to sync up for a day or two if you haven’t already had a BTC Core wallet. Keep in mind, its about a 65GB Download.
  2. Once the Wallet is Synced, open the generate-wallet.html and go to the tab called “Validate or Decrypt” then enter or scan your private key.BTC Private keysIf you have set a BIP38 Encryption it will prompt you to enter it.
  3. Then it will process.
  4. In the meanwhile make sure you BTC wallet is Running
  5. If your BTC wallet is encrypted you will have to Decrypt your wallet buy going to Help/Debug Windows/Console. Use the command Right under. Replace YOUR PASSPHRASE. This will allow it to be unlocked for 900 seconds.
  6. walletpassphrase "YOUR PASSPHRASE" 900
  7. Go back to the Webpage that you used to validated your key, scroll down till you see the Private Key WIF. Replace YourPaperWalletPrivateKey with the WIF Key. Keep in mind when you enter it, the wallet will re-scan the Blockchain to look for transaction with this address. This will take some time,Private Key WIF
  8. importprivkey YourPaperWalletPrivateKey "OPTIONAL LABEL"
  9. Once scan is complete the BTC is now in your wallet, Do not reuse the paper wallet
  10. There are other wallets you can use. Here is a Link to a more in-depth Step-By-Step on how to Sweep a Paper Wallet. https://bitcoinhelp.net/know/more/send-from-paper-wallet

If you have any further questions please leave a comment Below

 

TIP-JAR: 18BBg2dhuvxqwoH9u1sVeEwMgMqESAZ79a

 

Sources:

ANDROID WALLET: https://play.google.com/store/apps/details?id=de.schildbach.wallet&hl=en

https://bitcoinhelp.net/know/more/send-from-paper-wallet

https://github.com/cantonbecker/bitcoinpaperwallet

 https://bitcoinpaperwallet.com/bitcoinpaperwallet/generate-wallet.html

 

youtube

Coin Street News YouTube Channel Launch

YouTube Channel Launch

 

Coin Street News is proud to announce the launch of our brand new YouTube channel. As always the focus will be on technical analysis and some news stories thrown in for variety. We will also touch on indicators, wave structures, price action and more. Please subscribe and feel free to comment on the videos with any questions you have regarding technical analysis and price trends.

 

The first video is analysis of the current Bitcoin (BTC) bubble pattern and where the key bull/bear pivot is located.

July 5th, 2016

 

$DAO

The DAO (DAO)

DAO Hacked?

DAO
Click Chart to Enlarge

 

DAO
Click to Enlarge

 

 

The DAO raised over $100M USD and is the largest crowdfunded project according to wikipedia, yet somehow it is being attacked. I am more of a chart person than a technical person, but it is baffling to have over a Hundred Million Dollar bankroll and your not prepared for everything. If someone is “stealing” coins and dumping then it could go on for a fairly long time. This is all really too bad because the chart was acting very bullish. However when the attack stops the snap back of price will be very profitable. Watch The DAO for an entry once the dust settles.

 

Charts are powered by the SCMR Analysis Suite on Tradingview.com

Jun 17 2016

Improvements at EmpoEX.com

logo-orange-big[1]

 

The team at EmpoEX has been making considerable changes we would like to share with the you. There has been an upgrade to our hardware and the site is 3x faster than it was a few weeks ago. We are delisting the majority of markets and focusing on bell weather markets, hot new coins, and unique crowdsource projects only.  There are new social media and advertising managers, and have no plans to abandon XEMP. We are very excited for the future and hope to see you all back again soon. The following is our BCT post regarding the future of XEMP:

 

As a part of the new improvements at EmpoEX the staff has removed the Distribution Tab function. This only effects XEMP holders. There are a couple of projects in the works that are far better tools for traders than distribution. EmpoEX took the time to consult with a couple of the larger cap holders and it was agreed that “what is best for the exchange is what’s best for XEMP”.

 

Far too many traders have commented on how Bittrex should discard the distribution tab, and since CCEX added theirs volume went up at Yobit. This is a way to encourage high cap traders to feel more comfortable depositing sizable funds at EmpoEX and also ends up being an upgrade for XEMP holders in the long run. It is 2am GMT on May 23 2016, the Price of XEMP is currently equal to the initial offering of 100sats.

 

~EmpoEX Staff

New Baby: May 19 2016

happy

 

My wife and I just welcomed our 3rd child into the world so I took 3 weeks off to prep for baby and then chill with baby. As of today I will start posting again.

FXCM and Bitcoin: Apr 27 2016

forex brokers

 

FXCM has very recently added a Bitcoin information page, and yes, this IS a fairly big deal. First off, why would FXCM create a detailed Bitcoin information page unless they were going to be supporting the market? If they are going to be supporting BTC trading then what potential impact would that have on the market place?

 

The chart above shows FXCM as the #3 ForEx broker in the world. Though this particular chart shows daily volume near $12Billion USD they have gone beyond $15B a day. If just 1% of FXCM’s daily trade volume entered BTC that would mean upwards of $120M a day of trading. To put that into perspective Bitfinex only did $22M today and was under $10M while altcoins were in a bullmarket. Time will tell if this is the next step of institutional adoption we have been waiting for. At a glance I would say it is.

 

 

EmpoEX.com Delistings: Apr 22 2016

logo-orange-big[1]

 

Over the course of April 20-22 EmpoEX.com has reduced all non BTC trading pairs by over half and put delisting banners on the majority of BTC markets. Markets set for delisting need to have 1BTC of volume by May 8 or they will be removed. XEMP is now open to trade across all pairings and will see further developments at a later date.

 

The reduction in pairs and minimum volume requirements to avoid delisting are meant to sort out what coins still have strong communities so that EmpoEX can be a strong exchange. Future new coin adds will focus on unique markets mixed with a few high demand new launch coins. If your project dares to break the ordinary contact the exchange to submit a proposal.

 

 

EmpoEX.com

logo-orange-big[1]

 

Starting today EmpoEX.com will be advertising on CoinStreetNews. CSN will also be providing charts & marketing services for the exchange. We, EmpoEX,  have the desire to be a competitive exchange and we will focus on what traders want.

 

Some of the first steps will be removing unnecessary trading pairs, adding new launch coins based on community demand, and encourage volume through promotions. Stay tuned for regular press releases and follow us on our Twitter feed for more information.

 

(this is a submitted article from the EmpoEX.com)

 

 

 

 

 

 

 

Welcome Back…again: Apr 19 2016

cs_logo_145

 

The last few weeks have seen BTC painfully sideways and in the last couple of weeks altcoins started to cool off. However now it looks like BTC is ready for some action and we are back online. As always we have been doing updates for our membership and working on crypto related projects. Here come the charts!

Altcoin Exchange

Trade Crypto, Forex, Commodities and more

Charting Tool